What's next for the party that tried and failed to retake the Senate and White House? Former New York Mayor Rudy Giuliani talks to Anderson Cooper about the Republican platform and his party's dwindling support among Hispanics.

"I think there's one big issue...we've got to get over this immigration reform hurdle. President Bush was on the right track with comprehensive immigration reform. If we had passed that, we would be a party that probably had a 40 – 45% Hispanic base," says Giuliani. "Big opportunity lost really in Mitt Romney losing because I think that's one of the things Mitt Romney could have accomplished."

Giuliani, who is pro-choice and supports civil unions, commented on how the GOP needs to evolve to expand their base going forward. "My ideal Republican party would be a Republican party that was fiscally conservative, conservative on foreign policy and military policy, and on social issues we would be Libertarian; we would say 'We're going to stay out of your pocket book and we're going to stay out of your bedroom,' and I think that party could be a majority party."